More than half of the under 35s in the UK don't own the property they live in, and overall one in three Brits rent their home. When asked why they don't own a property, the most common answer is that housing is just too expensive. However, it doesn't have to be this way. We have tracked down five properties currently on the market for just £10,000.
So why are they so cheap, and would you want to live there?
However, the over-riding reason why the property is is cheap is the location. This semi-rural area does not have a great deal to offer in terms of employment, so there is not an enormous level of demand, or many people moving into the area. It also has its challenges in terms of crime and poverty, so you'd need to familiarise yourself with the location before moving in.
Prices in the area are generally low, and properties have sold locally for between £15,000 and £20,000 in better condition. The area has a number of empty properties, and issues with crime and poverty, which keep property prices depressed.
It's a former Norfolk Broads cruiser now moored on a residential mooring in Hoo, Kent. And while there are beds for four, there is only one cabin, and two of the beds have to be converted into seating during the day.
It's being marketed as a potential starter or weekend home, but is probably only going to suit people who don't have too many belongings.
If you bought here, this wouldn't be your only cost either, because there's a ground rent of over £3,000 a year, which would double your cost of ownership in three years.
These properties aren't without their flaws. However, at this price you wouldn't expect them to be. The question is, would you buy?